Geithner + China = Fail

[Freedom4all]

Not only is he considered a joke in the United States but Chinese students find Geithner a joke as well...

"Chinese assets are very safe," Geithner said in response to a question after a speech at Peking University, where he studied Chinese as a student in the 1980s.

His answer drew loud laughter from his student audience, reflecting scepticism in China about the wisdom of a developing country accumulating a vast stockpile of foreign reserves instead of spending the money to raise living standards at home.

China’s Concern

Seventeen of 23 Chinese economists polled in connection with Geithner’s visit said holdings of Treasuries are a “great risk†for the nation’s economy, according to a Chinese state media report yesterday. Still, the majority argued against quickly cutting them, the Beijing-based Global Times reported.

Geithner, 47, needs to show how the U.S. can prevent the value of China’s investment from being eroded by a weaker dollar or by the inflation that might be stoked by the stimulus money being pumped into the U.S. economy, according to Yu.

“It will be helpful if Geithner can show us some arithmetic,†he said.

Geithner told reporters on the way to Beijing that he’ll continue U.S. efforts to seek a larger Chinese role in organizations like the International Monetary Fund.

 

[freedom]

i feel sad for timmy , he's doing his best for our country by trying to peddle our snake oil treasuries .....

it's hard to tell how many people the goverment has fooled with their efforts to contain the econmic fallout , but one things for certain they will have to try harder with china ..

 

[Garfield1966]

Would it be better if Geithner were to go out and say that investing in the US is not wise and you money would be safer else where? Of course he is going to say the US is a safe investment. Just like a car sales man will tell you the car you are looking at was driven to church on weekends by a gray haired lady.

 

[dapoes]

Would it be better if Geithner were to go out and say that investing in the US is not wise and you money would be safer else where? Of course he is going to say the US is a safe investment. Just like a car sales man will tell you the car you are looking at was driven to church on weekends by a gray haired lady.

The obvious conclusion would be that theres an overall lack of confidence.

 

[southwind]

Would it be better if Geithner were to go out and say that investing in the US is not wise and you money would be safer else where? Of course he is going to say the US is a safe investment. Just like a car sales man will tell you the car you are looking at was driven to church on weekends by a gray haired lady.

As I'm sure the Chinese are probably comparing Geithner "TO" a used car salesman ! :blink: